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Edmonton-based Capital Power Corp. says it is no longer pursuing its proposed $2.4-billion carbon capture and storage project at its Genesee natural gas-fired power plant.
A corporate decision to mothball Canada's largest carbon capture and storage plan — Capital Power's $2.4-billion Genesee project — is likely the result of financial uncertainty and technological risks, analysts suggest.
Capital Power's Genesee would have stored three million tonnes of carbon dioxide a year — about three times that of Shell's project. Read on
Capital Power's decision not to pursue its $2.4-billion Genesee project is unlikely to be the first of other such cancellations, said Scott MacDougall of the Pembina Institute, a clean energy think tank.
Capital Power's decision not to pursue its $2.4-billion Genesee project shouldn't be seen as a signal of more cancellations to follow.